Phoenix Financial Ltd. Sells 32,424 Shares of Sol-Gel Technologies Ltd. $SLGL

Phoenix Financial Ltd. lowered its stake in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 22.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,723 shares of the company’s stock after selling 32,424 shares during the quarter. Phoenix Financial Ltd. owned about 3.48% of Sol-Gel Technologies worth $8,447,000 at the end of the most recent quarter.

Separately, Affinity Asset Advisors LLC acquired a new stake in shares of Sol-Gel Technologies during the first quarter valued at about $2,773,000. 26.18% of the stock is owned by hedge funds and other institutional investors.

Sol-Gel Technologies Price Performance

Shares of SLGL stock traded down $1.13 on Friday, hitting $55.12. The stock had a trading volume of 34,620 shares, compared to its average volume of 36,846. The firm has a market capitalization of $180.46 million, a P/E ratio of -10.54 and a beta of 1.25. Sol-Gel Technologies Ltd. has a 1 year low of $32.51 and a 1 year high of $97.97. The company’s 50 day moving average price is $66.65 and its 200-day moving average price is $73.83.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its earnings results on Thursday, November 12th. The company reported ($1.72) EPS for the quarter, beating analysts’ consensus estimates of ($2.07) by $0.35. The company had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.15 million. Sol-Gel Technologies had a negative return on equity of 39.28% and a negative net margin of 1,115.39%. On average, equities analysts forecast that Sol-Gel Technologies Ltd. will post -5.37 EPS for the current year.

Wall Street Analysts Forecast Growth

SLGL has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. Cantor Fitzgerald started coverage on shares of Sol-Gel Technologies in a report on Wednesday, October 14th. They issued an “overweight” rating on the stock. Zacks Research raised shares of Sol-Gel Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $110.00 target price on shares of Sol-Gel Technologies in a report on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sol-Gel Technologies presently has an average rating of “Buy” and a consensus target price of $197.50.

Insider Transactions at Sol-Gel Technologies

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. purchased 1,493 shares of Sol-Gel Technologies stock in a transaction dated Friday, September 11th. The shares were acquired at an average price of $65.94 per share, with a total value of $98,448.42. Following the completion of the transaction, the insider owned 540,000 shares of the company’s stock, valued at $35,607,600. This trade represents a 0.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought 53,430 shares of company stock worth $3,684,739 in the last 90 days. 66.51% of the stock is owned by corporate insiders.

About Sol-Gel Technologies

Sol-Gel Technologies is an Israel-based dermatology company that develops topical treatments for skin conditions. Its proprietary technology uses silica-based microencapsulation to formulate active ingredients for topical use. The company’s products include Epsolay, a benzoyl peroxide cream approved in the United States for inflammatory lesions of rosacea, and Twyneo, a topical combination of tretinoin and benzoyl peroxide approved for acne vulgaris. Sol-Gel has pursued commercialization and licensing opportunities in the United States and other markets.